The global silica-based matting agents market was valued at US$ 496.6 Mnin 2017 and is anticipated to expand at a CAGR of 5.29% from 2018 to 2026,according to a new report titled ‘Silica-based Matting Agents Market: GlobalIndustry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ publishedby Transparency Market Research (TMR) Rise in demand for silica-based mattingagents from the wood coatings segment drives the global market. Asia Pacificaccounts for a major share of the global silica-based matting agentsmarket.
Rise in Consumers Preference for Low Gloss and MattSurface Finishes
Currently, demand for paints and coatings with low-gloss matte finish islesser than that for paints and coatings with glossy finish. End-users,especially in the consumer industry such as the automotive sector, preferglossy finishes. Therefore, demand for paints and coatings with low-gloss mattefinishes is rising at a moderate pace. Matting agents are extensively employedin architectural coatings due to the high preference for low-gloss finishes. Customerpreference for low-sheen, low-gloss, and matte-finish products is rising due tothe increase in awareness about the benefits of low-glare products. Low-glosssurfaces prove to be less disturbing visually, especially in larger spaces.Rise in demand for matte finishes and growth of end-user industries such asautomotive and construction are anticipated to fuel the demand for mattingagents in various coating formulations, especially wood and coil coatingformulations, during the forecast period.
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Technological Incompatibility with UV-curedCoatings to Restrain Market
Demand for UV-cured coatings has been increasing significantly in thelast few years. Major factors influencing the choice of coatings for anyapplication include cycle times, cost efficiency, and emission of volatileorganic compounds (VOCs). Currently, the matting agents technology is notcompatible with UV-cured coatings. Therefore, rise in preference for UV-curedcoatings is anticipated to hamper the silica-based matting agents market in thenext few years, unless an alternative matting technology, which is compatiblewith UV-cured coatings, is developed.
Precipitated Silica Segment to Dominate GlobalSilica-based Matting Agents Market
Based on type, the global silica-based matting agents market has beensegmented into precipitated silica, fumed silica, natural silica, silica gel,perlite, and flux-calcined diatomaceous earth. The precipitated silica segmentis anticipated to dominate the silica-based matting agents market. Precipitatedsilica has a unique surface structure, favorable flowability, and highabsorptivity. Its physical properties can be manipulated during itsmanufacturing to suit the requirements of the application. It is extensivelyemployed as a matting agent in the paints & coatings industry. The segmentis estimated to account for a dominant share of the market during the forecastperiod. The natural silica segment is estimated to expand at a rapid paceduring the forecast period, as it is a natural product and its environmentfriendly. Demand for solvent-free coating technologies such as UV curing isrising. Silica-based matting agents are efficient and compatible with UV curecoatings. Therefore, the others segment is anticipated to expand at asubstantial pace during the forecast period.
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Water-based Segment to Dominant Global Silica-basedMatting Agents Market
In terms of technology, the global silica-based matting agents markethas been segregated into solvent-based, water-based, and others. Water-basedsilica-based matting agents are eco-friendly and are utilized in paints &coatings applications. This type of silica-based matting agents generatenegligible VOC emissions; therefore, they are referred to as eco-friendly.Additionally, they are compatible with water-based resins. Therefore, thesegment is estimated to expand at a rapid pace during the forecast period.
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Wood Coatings Segment to Drive Global Silica-basedMatting Agents Market
In terms of application, the global silica-based matting agents marketcan be divided into industrial coatings, wood coatings, architectural coatings,automotive coatings, and others. The industrial coatings segment can be furtherclassified into metals, papers, plastics, printing inks, and others. Theindustrial coatings segment to expected to dominate the global silica-basedmatting agents market during the forecast period. Wood coatings andarchitectural coatings segments are projected to propel the silica-basedmatting agents market. Consumer demand for low gloss and matt finishes in theseapplications is rising. This, is in turn, is driving the requirement formatting agents.
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Asia Pacific Dominates Global Silica-based MattingAgents Market
Based on region, the global silica-based matting agents market can beclassified into North America, Europe, Asia Pacific, Middle East & Africa,and Latin America. Asia Pacific is a major consumer of matting agents,especially silica-based matting agents. High demand for silica-based mattingagents is attributed to the huge paints and coatings industry in the region.Europe is a key consumer of silica-based matting agents in the world. Demandfor silica-based matting agents is anticipated to rise at a sluggish pace in Europeduring the forecast period. North America constitutes a significant share ofthe global silica-based matting agents demand. Demand these agents isanticipated to rise at a moderate pace between 2018 and 2026. The market inLatin America and Middle East & Africa is anticipated to expand at aconsiderable pace and create lucrative opportunities in the silica-basedmatting agents market during the forecast period.
Low Degree of Competition among Market Players
The global market is dominated by large players. They account fordominant share of the silica-based matting agents market. The market is highlyconsolidated. Key players operating in the market include Evonik Industries AG,W.R. Grace & Co.-Conn, PPG Industries, Inc., PQ Corporation, The LubrizolCorporation, Imerys, and Akzo Nobel N.V.
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